Tax Cap Tuesday: 1.17.12

Yesterday’s poll asked:

What happens if the budget is not approved by voters?

If a district’s budget is not approved by voters, the district has two options: adopt a contingency budget or go for another vote with the same or a revised budget. If the budget is not approved a second time, the district MUST adopt a contingency budget. Aside from certain spending restrictions, this means that a district would not be able to increase the tax levy over the current year – essentially a 0 percent tax cap. In the past, this cap was set at the lesser of 120 percent of the Consumer Price Index (CPI) or 4 percent.

To see how others voted on yesterday’s poll: visit the poll post and click “View Results”

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